Triangle Securities Wealth Management Sells 265 Shares of Corteva, Inc. (NYSE:CTVA)

Triangle Securities Wealth Management reduced its stake in shares of Corteva, Inc. (NYSE:CTVA – Get Rating) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,958 shares of the company’s stock after selling 265 shares during the quarter. Triangle Securities Wealth Management’s holdings in Corteva were worth $1,702,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CTVA. Baron Silver Stevens Financial Advisors LLC purchased a new position in shares of Corteva during the third quarter valued at approximately $313,000. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of Corteva during the third quarter valued at approximately $28,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of Corteva during the third quarter valued at approximately $29,000. JFS Wealth Advisors LLC boosted its position in shares of Corteva by 60.5% during the third quarter. JFS Wealth Advisors LLC now owns 568 shares of the company’s stock valued at $32,000 after buying an additional 214 shares during the period. Finally, Carolinas Wealth Consulting LLC boosted its position in shares of Corteva by 454.5% during the first quarter. Carolinas Wealth Consulting LLC now owns 610 shares of the company’s stock valued at $35,000 after buying an additional 500 shares during the period. 79.45% of the stock is owned by institutional investors.

Corteva Stock Down 0.6 %

Corteva stock traded down $0.35 during mid-day trading on Friday, reaching $56.61. 12,011,065 shares of the company were exchanged, compared to its average volume of 3,673,366. The business has a fifty day moving average of $61.79 and a 200 day moving average of $62.17. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.93 and a current ratio of 1.56. The firm has a market cap of $40.34 billion, a P/E ratio of 36.06, a PEG ratio of 1.42 and a beta of 0.80. Corteva, Inc. has a 12-month low of $50.03 and a 12-month high of $68.43.

Corteva (NYSE:CTVA – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.10. The business had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.79 billion. Corteva had a return on equity of 7.54% and a net margin of 6.57%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.08 earnings per share. Research analysts anticipate that Corteva, Inc. will post 2.89 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Tuesday, February 28th. Corteva’s payout ratio is presently 38.22%.

Insider Transactions at Corteva

In other Corteva news, CEO Charles V. Magro purchased 40,000 shares of Corteva stock in a transaction dated Monday, February 6th. The shares were acquired at an average cost of $60.64 per share, with a total value of $2,425,600.00. Following the completion of the transaction, the chief executive officer now owns 126,095 shares in the company, valued at approximately $7,646,400.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

CTVA has been the subject of several recent analyst reports. Citigroup boosted their target price on Corteva from $72.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, February 3rd. Mizuho boosted their price target on Corteva from $76.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, January 12th. KeyCorp lowered their price target on Corteva from $72.00 to $70.00 and set an “overweight” rating for the company in a report on Friday, February 3rd. Wells Fargo & Company lowered their price target on Corteva from $78.00 to $77.00 and set an “overweight” rating for the company in a report on Friday, February 3rd. Finally, Bank of America upgraded Corteva from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $64.00 to $68.00 in a report on Wednesday, January 11th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.53.

About Corteva

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Corteva, Inc engages in the provision of seed and crop protection solutions, which focus on the agriculture industry and contributing to food supply. It operates through the Seed and Crop Protection segments. The Seed segment is involved in developing and supplying advanced germplasm and traits that produce yield for farms.